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Personalized Financial Planning – How Easily CPAs Can Take It Up

A number of new challenges for CPAs as well as financial advisors have been brought to light due to factors like –

  • Drastically shifting financial markets
  • Global interests
  • Changing taxation requirements

Considering such an extremely challenging situation, it may prove to be tedious to easily maintain absolute peace of mind. Stabilizing financial life may further prove to be much tougher.

Personalized Financial Planning

In such challenging times, if CPAs offer handholding service to their clients, it would become much easier to streamline the complete process of future financial planning besides allowing improved wealth management too.

Personal Finance Planning as a Medium for Opening New Vistas for CPAs and Accountants

CPAs who opt to offer Personal Finance Planning (PFP) to their clients have a great chance of opening up doors for extra revenue flow and much improved staff retention.

Practicing “Personal Finance Planning” services helps clients to understand all major unique challenges that they may face while going to manage their personal wealth.

This further ensures improved mental state of clients, thereby leading to better opportunities for winning more customers.

Integrating PFP services help open up new vistas for CPAs and accountants in terms of following –

  • Informational communications comprising of recent updates on resources, news as well as events for all CPA financial planners
  • Deploying several networking channels for connecting effectively with like-minded CPAs
  • Regulatory and legislative updates affecting the CPA financial planners
  • Professional and practice advancement
  • Acquiring resources and critical information to earn

Definitely, by addressing a few of the crucial aspects impacting the financial life of an investor or client can surely make a great difference to your existing business proceedings.

As per a survey done by Journal of Accountancy, almost 83 percent CPAs offering PFP as well as other services confirmed that they never lost tax clients due to issues related to financial planning.

PFP services can be taken by CPAs and bookkeepers via following five channels –

  • Wealth/Estate transfer planning
  • Investment planning and management
  • Cash flow planning and management
  • Income tax planning
  • Retirement planning

Deploying any of these channels can have astounding impact on company’s revenue.

Simply talking about finance management and ignoring the importance  of ‘Personal Finance Planning Services’ may prove to be quite hazardous in the long run as it cuts down the potential chances of inspiring success in CPA firms.

Personal Finance Planning brings a number of benefits to CPAs and hence it’s recommended that they must leverage the same to the core to reap better gains.


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